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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

LNG
22-02-2025

China’s LNG Imports Near Record High in 2024
The volume of liquefied natural gas (LNG) imports to China reached around 77 million tonnes (Mt) in 2024, nearly reaching the record-high of 79 Mt in 2021, according to Rystad Energy.In its latest special market update, Rystad said China’s LNG i
Oil&Gas Drilling
18-02-2025

Petrobras Strikes Black Gold Within Producing Oil Field’s Pre-salt Offshore Brazil
Map showing location of new discoveryBrazilian state-owned energy heavyweight Petrobras has made a new oil discovery in the pre-salt area of its existing field off the coast of Brazil.The drilling of the 9-BUZ-99D-RJS well in the western region of the B&a
Oil & Gas Trade
18-02-2025

Kurdistan Region’s Oil Exports to Resume Next Week, Iraqi Minister Says
Iraq's Oil Minister Hayan Abdel-Ghani attends the fifth plus and sixth licensing rounds for 29 oil and gas exploration blocks at the Oil Ministry's headquarters in Baghdad, Iraq, May 11, 2024.Oil exports from the semi-autonomous Kurdistan
Oil & Gas Supply
18-02-2025

OPEC+ Is Not Considering Delay to April Oil Supply Hike, Novak Says
Russia's Deputy Prime Minister Alexander Novak attends a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 6, 2024.OPEC+ producers are not considering delaying a series of monthly oil supply increa
Oil & Gas Trade
18-02-2025

Egypt, Cyprus Sign Gas Export Deals, Boosting Eastern Mediterranean Energy Cooperation
Egypt and Cyprus signed agreements on Monday enabling the export of gas from Cyprus's offshore fields to Egypt for liquefaction and re-export to Europe, as both countries seek to bolster the Eastern Mediterranean's role as an energy hub.Th
Oil & Gas Trade
18-02-2025

Australia’s Woodside in Talks With at Least Three Partners for Louisiana LNG, Sources Say
Meg O'Neill, the CEO of Woodside Energy, speaks during a panel discussion as top energy executives and ministers meet in Houston for the annual Gastech conference in Houston, Texas, U.S., September 17, 2024.Woodside Energy (WDS.AX), has held talks
Oil&Gas Drilling
17-02-2025

SBM Offshore’s Giant FPSO Switches to Oil Production Mode at Petrobras’ Deepwater Field
Brazilian state-owned energy heavyweight Petrobras has confirmed the first oil from a new floating production, storage, and offloading (FPSO) unit, owned by the Netherlands-based SBM Offshore, as the vessel has begun operations at a huge field in the pre-
Oil Field
17-02-2025

Brazil’s Largest Offshore Oil Platform Begins Operations in Pre-salt Region
Brazil’s Largest Offshore Oil Platform Begins Operations in Pre-Salt Region.Brazil's largest offshore oil production unit, the Almirante Tamandaré, commenced operations in the Búzios Field, situated in the Santos Ba
Oil&Gas Drilling
17-02-2025

BP Starts Production at Second Phase of Egypt’s Raven Field
Signage is seen outside a BP (British Petroleum) petrol station in Liverpool, Britain, February 7, 2023.British energy giant, BP, announced on Sunday the start of production from the second development phase of the Raven field, offshore Egypt, which invol
Oil&Gas Drilling
17-02-2025

SBM Offshore’s Giant FPSO Switches Oil Production Mode on at Petrobras’ Deepwater Field
FPSO Almirante Tamandaré;Brazilian state-owned energy heavyweight Petrobras has confirmed the first oil from a new floating production, storage, and offloading (FPSO) unit, owned by the Netherlands-based SBM Offshore, as the vessel has begun op
Crude Oil
22-02-2025

SOCAR Announces Expected Volume of Euro-5 Gasoline Output in Azerbaijan in 2025
This year, the Heydar Aliyev Oil Refinery is projected to produce 1.7 million tons of Euro-5 standard gasoline, according to the State Oil Company of Azerbaijan (SOCAR). In 2024, the refinery produced 1.4 million tons of automobile gasoline, with 0.6 mill
Gas Pipeline
17-02-2025

Welspun Corp Bags New Orders Worth Rs 3,000 Crore for Natural Gas Pipeline Projects in US
Welspun Corp has received orders in the US worth Rs 3000 crore.Welspun Corp on Monday announced that it has received orders in the US worth Rs 3000 crore for natural gas pipeline projects. In a regulatory filing, the company said, We are pleased to announ
Oil & Gas Trade
17-02-2025

Chevron Cranks up Venezuelan Oil Exports Amid Trump-Maduro Reset
Chevron Corp. plans to ratchet up oil exports from Venezuela to a seven-year high as a reset of the country’s relationship with the US eases concerns that trade restrictions will increase.Exports of synthetic oil from Chevron’s Petropi
Oil & Gas Trade
17-02-2025

Chevron Cranks up Venezuelan Oil Exports Amid Trump-Maduro Reset
Chevron Corp. plans to ratchet up oil exports from Venezuela to a seven-year high as a reset of the country’s relationship with the US eases concerns that trade restrictions will increase.Exports of synthetic oil from Chevron’s Petropi
Oil Refinery
17-02-2025

OPEC Forsees Lower Dangote Refinery Petrol Price
The Organisation of the Petroleum Exporting Countries has expressed optimism that the Dangote Petroleum Refinery can lower petrol prices in Nigeria.This is even as the refinery is asking the Federal Government to fully implement the naira-for-crude deal b
Oil Field
17-02-2025

CNOOC Limited Announces Buzios7 Project Commences Production
CNOOC Limited announces that Buzios7 Project has commenced production safely.Buzios oilfield is located in the Santos Basin, southeast offshore of Brazil, with a water depth of 1,900 to 2,200 meters. It is the largest deep-water pre-salt oilfield in the w
Oil&Gas Drilling
14-02-2025

OPEC Reports Decline in Kazakhstan’s Oil Output for Jan. 2025
Kazakhstan’s crude oil production in January 2025 was estimated at 1.53 million barrels per day (mb/d), according to OPEC’s latest report, Trend reports.This marks a decrease of 73,000 b/d from December 2024, when output was recorded a
Crude Oil
14-02-2025

Nigerian Oil Firm Secures $200 Million for Domestic Gas Expansion
A Nigerian oil and gas company, NESGAS Limited, yesterday, said the signing of a $200 million contractor financing agreement with Cakasa Nigeria Limited for the construction of 50,000 metric tonnes of liquefied petroleum gas (LPG) storage facility in Onne
Oil & Gas Trade
14-02-2025

ADNOC Gas Signs 14-Year LNG Agreement With Indianoil for up to $9 Billion
ADNOC Gas has signed a 14-year sales and purchase agreement (SPA) with Indian Oil Corporation for the export of up to 1.2 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to India’s largest integrated and diversified energy company
Oil & Gas Trade
14-02-2025

Trafigura Buying Oil From Brazilian Player’s Santos Basin Field
Brazil’s oil and gas company Brava Energia has signed a contract with global commodity trading group Trafigura for the sale of oil produced at the former’s field in the Santos Basin offshore Brazil.Under the contract, Trafigura will ge
LNG
14-02-2025

Evergreen Splashes Out $3 Billion on New LNG Dual-Fuel Containerships
Evergreen's Ever Acme.According to the company’s stock exchange files from February 12, eleven vessels with a capacity of 24,000 TEUs were ordered.Five containerships will be built by CSSC Guangzhou Shipyard International (GSI) in China
Natural Gas
16-02-2025

Colombian Energy Chief Criticizes Gas Companies for Price Hikes
Andres Camacho speaks during a press conference in Bogotá on May 24, 2024.Colombia’s top energy official is blaming natural gas distributors for the hike in prices faced by homes and businesses, saying the companies are opting for mor
Crude Oil
14-02-2025

Elliott Pushes Big Cost Cuts at BP to Preserve Its Independence
Storage tanks at the Port of Rotterdam in Rotterdam, Netherlands.Elliott Investment Management is demanding BP Plc make drastic cost cuts and divestments to strengthen its future as a standalone company, people with knowledge of the matter said.The activi
Natural Gas
14-02-2025

Germany Wants EU to Relax Gas Storage Targets
Model of natural gas pipeline and EU flag, July 18, 2022.Germany wants the European Union to make its gas storage targets less rigid because of worries over their cost, the economic affairs and climate ministry said on Thursday.The targets, introduced in
Oil Price
14-02-2025

Oil Settles Flat, Pares Early Losses as Tariffs Delayed
An oil pump of IPC Petroleum France is seen during sunset outside Soudron, near Reims, France, February 6, 2023.Oil prices settled flat on Thursday, paring early losses of more than 1% as U.S. tariff announcements were delayed until at least April, feedin

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